DWS Massachusetts Tax-Free Fund - Class S is a municipal bond mutual fund designed to provide investors with income that is exempt from both Massachusetts personal and federal income taxes. The fund primarily invests at least 80% of its assets in investment-grade municipal securities issued by governmental entities within Massachusetts, which may include debt supporting infrastructure, transportation, education, and public utilities. It may allocate up to 20% of assets to securities whose income could be subject to the federal alternative minimum tax. Managed by experienced fixed income professionals, the fund seeks to offer a stable stream of tax-advantaged income while maintaining a moderate credit quality and interest rate sensitivity. With over 100 individual holdings and a diversified portfolio, it serves investors who prioritize tax-efficient income and are residents of Massachusetts or subject to its state tax regime. The fund typically distributes dividends monthly, targeting individuals, trusts, and institutions seeking regular, tax-free income from a portfolio focused on local municipal issuers. Investors must meet a minimum investment threshold and pay an expense ratio for the active management and oversight provided by DWS Investment Management Americas, Inc.
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